If a company matches an employee 5% of their salary into a retirement account and the employees salary is 57,817.00, how much it is at the end of the year?

Solution

If a company matches an employee 5% of their salary into a retirement account and the employees salary is 57, 817.00, how much it is at the end of the year?

Solution

Amount after addition : 60707.85

Solution steps

Translate the problem into an equation:

x = 57817 + 0.05 \cdot 57817

x = 57817 + 0.05 \cdot 57817 : x = 60707.85

Amount after addition : 60707.85

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